C150244 feas study

• Contract/PO #: C150244
• Contractor Name: Wood Lake Mutual Water & Irrigation Company
• Contract Type: Loan
• Water District: 0
• County: Weld
• Loan Projects - Doc Type: Feasibility Study

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TABLE 4
FUND REQUIREMENT SCHEDULE
YEAR WLMWIC
PARTICIPATION/PMT' S
2007 $ 25,506
2008 - 2036 $ 10,062
2037 Final Pmt Made From CD
CWCB 90% LOAN
$ 210,600
The funds required will necessitate the WLMWIC raise assessments to provide the cash flow
' indicated. Revenue for operations are derived from assessments on 1682 shares of outstanding
stock; the loan repayments for the Wood Lake rehabilitation are made from assessment on 1637
' shares of stock; and, the loan repayments for Angel Lake rehabilitation will be made from
assessment on 1682 shares of stock . Assessments are presented to stockholders and approved at the
annual stockholders meeting held in December of each year. The assessments have generally been
' $25 to $30 per share since 2001 as shown below with some single year assessments higher as
indicated. Assessments have been as high as $48 per share as was the case in 2004.
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The assessments for the years 2000 to 2006 are summarized as follows.
Year Assessment
2006 $ 37
2005 $ 25
2004 $ 48
2003 $ 30
2002 $ 30
2001 $ 30
2000 $ 43
The financial condition of the company is solid at the present time. The company has no long term
' obligations other than the prior loan from the CWCB for the rehabilitation of Wood Lake. The
Company has a certificate of deposit for Wood Lake with a current balance of approximately
' $35,000.
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Table 5 shows the cas flow and annual financial schedule for the Company's operations which
' includes the propose �WCB loan at 2.5 % interest over a 30-year repayment period. The
schedule also includes the 10% share of the project which will have to be paid by the stockholders
during design and construction.
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Table 5 shows the assessment that is levied on 1682 shares of stock for normal O&M expenses
(column 1); the assessments on 1637 shares of stock (column 2) for the rehabilitation of Wood Lake;
the assessments on 1682 shares of stock (column 3) for the rehabilitation of Angel Lake; and, the
Angel Lake Feasibility Study Page 9
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